Over 90% of Californians across party lines think it’s important to reduce home insurance costs and make sure home insurance policies are available.
Now five bills in the state Senate could do just that.
- Senate Bill 982, Affordable Insurance and Recovery Act, would allow the state attorney general to recover climate-attributable losses from large fossil fuel corporations and redirect those funds toward household relief, FAIR Plan stabilization, and wildfire resilience.
A study by the Greenlining Institute found that SB 982 could create $3,800 per year in average net savings per household, with up to $62 billion in compensation for households and businesses facing increased costs.
Meanwhile, a package of four bills would protect homeowners from Big Insurance profiteering:
- SB 1076, Insurance Coverage for Fire-Safe Homes Act, would require insurers to offer and renew coverage on homes that meet state fire safety standards.
- SB 1301, Nonrenewal Guardrails to Preserve Coverage Act, would require insurers to give six months advance notice of policy nonrenewals, with documented reasons and a chance to cure.
- SB 877, Fair Claims Practices and Transparency Act, would require insurers to provide full disclosure of original and revised loss estimates and how they were calculated.
- SB 878, Insurance Payment Accountability Act, would add interest payments if insurers violate legal timelines for paying claims.
Together, these bills are designed to restore a functioning insurance system in California – because when insurance fails, recovery fails. Tell your California Senator to support these five insurance bills.
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